Hang Lung Properties wins Shouson Hill land
Hang Lung Properties had won the tender of the land site of the US government’s residential real estate asset located at 37 Shouson Hill Road, Shouson Hill at HKD 2.566 billion. The site has an area of 94,800 sq ft. With a total GFA of 47,400 sq ft, the accommodation value was about HKD 54,100 per sq ft, and was close to the lower end of market expectation. It is expected to be redeveloped into luxury estates. The total investment will reach HKD 4 billion, and the project is expected to be completed in 2024.
Dukes Place sold at HKD 58,968 psf
Duplex unit B, mid-floor, Dukes Place, Jardine’s Lookout, with a saleable area of 2,849 sq ft, together with two parking spaces, has been transacted at HKD 168 million or HKD 58,968 per sq ft.
Shop at Ki Lung Street sold at HKD 17 m
According to market news, street shop, G/F, 160 Ki Lung Street, Sham Shui Po, with an area of 800 sq ft, has been sold at HKD 17 million or HKD 21,250 per sq ft. The original owner bought the shop at HKD 190,000 in 1972, making a book profit of HKD 16.81 million or a 88 times appreciation in 48 years.
Entire floor of The Sharp transacted at HKD 35.28 m
Entire 32/F, The Sharp, 11-13 Sharp Street East, Causeway Bay, with an area of 1,579 sq ft, has been transacted at HKD 35.28 million or HKD 22,343 per sq ft.
(Sources: Vigers Research and market news)